Chapter 5
Social and economic transactions provide the impetus for the production and exchange of information. Transactions, however, entail effort and incur costs and are thus subject to attempts at economizing through institutional arrangements. In the l-space, we distinguish between four basic types of transactional structures:
1Markets, in which transactionally relevant information is well codified, abstract, and widely diffused.
2Bureaucracies, in which transactionally relevant information is well codified and abstract, but whose diffusion is under strict central control.
3Clans, in which transactionally relevant information is uncodified, concrete, and only diffused to small groups.
4Fiefs, in which transactionally ...
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